Minor selloff results in lower RSI point than whole Nov. Rally

7 thg 2, 2014

A sudden torrent of activity on Gox, after weeks of negligible volume, has smash through the sideways supports to new bear territory. But a quick check of RSI going back to October 2013 shows this concerted selloff has resulted in lower RSI values than existed during any of the much larger selloffs through the November rally. We haven't seen RSI this low since the Silk Road seizure. This would seem to indicate the current selloff, while not necessarily over, simply doesn't have the steam to push much farther down.